China's green treasure line soared to break 50 yuan

September 10 Morning A shares opened, the green treasure in a straight line soaring through 50 yuan. Since the previous day just carried out 10 to 10 of the right, its share price actually exceeded 100 yuan, and at the beginning of this year, the stock price of green treasure in only 10 yuan hovering around. In just 9 months, the Chinese green treasure by the lift ladder rapid soaring, become this year the first cow shares. A second-rate gaming company, a thinly-traded, 734 times-fold-a-share company that can hold such a high price? What is the capital mystery behind China's green treasure?

Market capitalisation far exceed the grand performance is not big 1/20

"It is strange that I have played for so many years, but I have never played any games in the green treasure." "Reporters in the various game forums launched by the survey, most of the players on the green Bao know very little, and grand, Giant, perfect world, etc., is their recognized game giants."

From the game variety of green treasure management to see, mainly for the "anti-Japanese War" "Liang Jian" "Dream back to the Mountain Sea" and several network games, including the "anti-Japanese War," the average number of online, peak time of up to 20,000 people, however, the number and other well-known network games, immediately appear pale. The industry's grand "legend", NetEase's "Warcraft", The Giant's "journey" and other top online numbers are usually around million people.

From the performance point of view, the green treasure is also sparse common. According to the results, since the listing, 2010, 2011, 2012, the green treasure in the realization of net profit of 35.5164 million yuan, 12.2121 million yuan, 16.692 million yuan, year-on-year growth of 13.65%,-64.12%, 31.92%. In the first half of this year, the Green PO achieved a net profit of 17.42 million yuan, although beyond the last year's level, but far from the top of the market, the industry leader of the Grand game semi-annual net profit of more than 60 million U.S. dollars, equivalent to more than 360 million yuan, the green Bao is still less than 1/20.

Interestingly, with the stock price rising, the market value of the Chinese yen has surpassed 10 billion yuan, the P/E ratio is as high as 734 times times, Shanda game market value is only 1.109 billion U.S. dollars, the renminbi is less than 7 billion yuan, the P/E ratio is only 6.6 times times. At the same time, the perfect world market value of 1.016 billion dollars, also far less than the green treasure.

US games shares far lower domestic level

"Whether the tour is really gold, look at the United States will know." Although the US mobile game already covers nearly half of all mobile users, the market growth prospects are optimistic, but compared with the crazy P/E ratio, the U.S.-listed gaming stocks are quite calm, the general dynamic P/E is about 15 times times, the dynamic view of the Blizzard 16.24 times times, the perfect world of 16.31, the giant network of 11.69. A game industry analyst told the IT Times reporter. Reporter noted that as the actual control of the Li Ruijie and Zhang Yunxia, in addition to mastering the green treasure, but also hold a Hong Kong gem technology and a number of other small companies, and technology in Hong Kong's stock price of HK $0.85, the total market value of only about 500 million HKD.

In the middle of the news from the Green Treasure, MMO (large multiplayer online games) and page tour for the revenue has made a contribution, while the hands of the business income of less than tens of millions of revenue, accounting for about 10%. Throughout recent years of earnings, the traditional end of the tour, the page tour performance growth is not large, set up in early 2012, since the research team, but there is no monthly flow of tens of thousands of products. In the hand tour, China Green Bao said that the second half of the upcoming release of more than 50 stand-alone games and 6 mobile phone games. With the increasingly fierce competition in the hands, the level of profitability is shrinking, unless there are one or two special eye-sucking products, otherwise it is difficult to achieve the performance of explosive growth.

The Dharma sword behind the crazy hype

Leafing through the process of more than a year, you can see all the way capital, the fund, private equity, floating money began a game of drumming. From the point of view of the quarterly, only a fund into the top ten shareholders of the Green Treasure, the agency's private seats are also less involved in the speculation, private and capital became the main force.

Among the top ten shareholders of the green treasure, there are Zhao, Chengbio, Zhang three of natural person shareholders in the two quarter of this year to buy 810,000 shares to 1.33 million shares of different stocks, per capita cost of more than tens of millions of yuan, the average price of 20 yuan, now, the Chinese stock has risen to 100 yuan, the retail stock market capitalisation of several times.

Shenzhen Stock exchange of information revealed that the last two months, a number of active hot money appeared in the billboard, including the Galaxy Securities Ningbo Cuibai Road Sales department, founder Securities, Taizhou Jiefang Road Sales Department, Minmetals Securities, Jin Tian Road sales department is more than a few times. This Monday, once again trading in the billboard, the buyer in the first five, Guotai trading unit to buy 37.5806 million yuan, accounting for the total proportion of 2.37%.

The seat is recognized by the market, private one elder brother Xu Xiang Special channel, recently frequently appeared in the stock of the Dragon Tiger list, its characteristics are fast forward fast out, pull out immediately after the escape, so that the risk becomes greater later.

"The characteristics of the green treasure is a small share capital, there are themes, easy to become private equity and the goal of idle money." "Warburg Securities senior investment advisers said in the summer, the green treasure in the hype has a very big characteristics, the beginning of a slower, about 8 months time Rose 4 times times, but the last one months from 40 yuan rose to 100 yuan, because the higher the stock price, the more investors do not dare to buy, chips more concentrated, private, hot money out of the goods, Can only be repeatedly pulled up to attract retail investors to enter, and gradually distribute chips.